Posted on Nov 8, 2021, 5:00 PMUpdated Nov 8, 2021, 5:05 PM
Malaise on Wall Street. The wave of wage hikes conceded by Goldman Sachs after the revolt of its junior bankers was clearly not enough. At least five of the thirteen analysts who denounced in March “inhuman” working conditions at the rate of 105 hours per week have left the investment bank, according to “New York Magazine” and “New York Post”. The rebellion born in San Francisco in the tech team of the prestigious firm had forced all the major investment banks around the world to raise the salaries of their juniors to more than 100,000 dollars.
Goldman finally gave in, but only this summer. A year earlier, it still refused to cover the payment of equipment and meal costs for its bankers during confinement, unlike its competitors, thus scolding the revolt, reports the weekly which puts forward tax reasons . The bank has since become one of the most generous on Wall Street. First-year junior salaries soared 30% at the start of August, to $ 110,000, then $ 125,000 after two years, and 150,000 at the next grade.